The terrible losses in Egypt's stock market during 2011 reached 80.5 billion EGP (U.S. $13.5 million) and reveals Egypt's stock market is the main victim of the Egyptian January 25 Revolution, said the syndicate of the workers of Egypt's stock market spokesman, Ehab Saeed. He said the current atmosphere negatively affected investments, while Arab and foreign investors turned to other countries due to the state of instability in Egypt since the revolution. Saeed blamed the current strikes and demonstrations for the decline of Egypt's stock market, especially with the recent judicial rules such as withdrawing the licenses of steel and turning three private companies to the business sector. He added these rules strongly contributed to the current deterioration of the Egyptian economy, considering such rules aim to nationalizing private companies with no sovereign decisions.
